Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 500,000 shares of $10 par common stock and 40,000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following stock transactions pertain to Eastport Inc.: 1. Issued 17,000 shares of common stock for $15 per share.. 2. Issued 12,000 shares of the class A preferred stock for $35 per share. nt 3. Issued 57,000 shares of common stock for $18 per share. nt Required Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized. EASTPORT INC. Balance Sheet (partial) For the Year Ended Year 1 Stockholders' Equity Common stock Preferred stock Paid-in capital in excess of par, CS Total Paid-In Capital Retained eamings Total stockholders' equity